Target Corporation (Business Essay Sample)

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Target Corporation is one of the largest retailing companies in America. In fact, according to the leading business magazines in the United States, their only real threat in the market of retailing is Wal-Mart Corporation. Its headquarters are based in Minneapolis, Minnesota. The corporation has been one of the most successful companies exhibiting a very high growth rate to what we know today as an American corporation with more than one thousand and eight retail stores and over 355 000 employees.

The company was established in 1902 to trade as the Dayton Dry Goods Company in Minneapolis. However, it took about sixty years before they opened their first store in a nearby town, Roseville. George Dayton dedicated almost all his life to ensure that the company became successful as the founding father and the main owner of all the other divisions making up the Dayton Hudson Corporation. The organization has been lucky to retain some of the talented and dedicated strategic managers like the current Chairman and Chief Executive Officer, Gregg Steinhafel. Their leadership skills have made the company’s stocks be one of the most demanded in the New York Stock Exchange. Investors literally scramble for TGT stocks, the corporation’s ticker symbol, in the NYSE trading platform.

In August 2000, the corporation changed its name to Target Corporation adopting the bull’s-eye trade mark. Their growth can actually be associated with several mergers overtime and expansion of its operations into new countries in the continent like Canada. The corporation receives the best audit reports done by America’s most respected audit firms like Ernst & Young LLP which they have hired for several years. The company’s success can also be attributed to its strong customer service policy which gives them a competitive advantage over their competitors. Better service and a good product pricing history have made the corporation thrive in the competition.